According to corrupt former MP Eddie Obeid, the chances of the Director of Public Prosecutions laying charges against him are about ''1 per cent''.

On Thursday the Independent Commission Against Corruption made another three corruption findings against him, on top of a finding from his coal mine dealings in the Hunter.

More could come late this year as Mr Obeid is a major figure in the current inquiry into Australian Water Holdings.

The ICAC's job now is to prepare briefs of evidence for the DPP, which advises whether there is sufficient admissible evidence to lay charges.

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How long this might take is very uncertain - 18 months from the release of an ICAC report is not unusual - but in Mr Obeid's case the interlinking inquiries, two of which are still going, could add to the difficulties.

The ICAC has announced it has prepared partial briefs of evidence against Mr Obeid, his son Moses and then mining minister Ian Macdonald, in relation to the coal deal findings last July. It is now taking witness statements.

Progress on charges of giving false and misleading evidence to the ICAC are further advanced. The ICAC says it is awaiting the DPP's decision on whether to proceed against Moses Obeid, and Rocco Triulcio, Rosario Triulcio and Paul Obeid.

Though the odds of prosecution might be higher than 1 per cent, the ICAC's record on securing sufficient evidence to bring criminal charges and to successfully prosecute are very mixed.

Most witnesses before the ICAC take a section 38 objection, meaning their testimony cannot be used against them in criminal proceedings, other than in proceedings for lying to the ICAC.

Often, inconsistencies and admissions made by witnesses form the basis of a corruption finding, which requires only the balance of probabilities. Criminal charges require proof beyond reasonable doubt.

The ICAC is also not bound by the laws of evidence, so documents produced may not be admissible in a trial.

The difficulties were highlighted by events that followed the ICAC's inquiry into Wollongong Council in 2008. The ICAC made findings in October that year and flagged 139 possible criminal charges against 11 people, including councillors, developers and the council's planner.

Over the next 18 months several were charged with relatively minor offences, mainly giving false evidence to the ICAC, but more serious charges were dropped for lack of evidence. In the end, just 21 charges were laid against six people. Three were found guilty.

More recently the ICAC has suffered setbacks in its investigation of former lands minister Tony Kelly, who decided to buy back a $12 million union property at Currawong on the northern beaches just days before the 2011 election.

The ICAC determined in late 2011 that Mr Kelly had acted corruptly, but acknowledged last year there was no way the case could progress to court.